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And the Obama lovers think this was a wonderful report?
Yes, the 288K number and upward revisions of previous nonfarm payrolls numbers were good. The data from the household survey (a separate survey from which the UE rate is derived) was mainly horrific, despite the lower UE rate. According to the household survey, 73,000 fewer Americans actually have jobs.
I repeat .... Unemployment Insurance IS NOT USED to measure total unemployment.
You're right. BUT, people must look for work in order to receive benefits and many quit looking for work when they are no longer eligible even if they remain without work. After four weeks, they are no longer counted as unemployed for the purposes of the U3 rate. It IS true that this is why many are no longer counted. (If they're still not looking after 12 months, they aren't counted under the U6 rate either.)
Repeating something doesn't make it true. People like my BIL and friends who have given up looking for work are not counted and they should be because the reason they are not working is they cannot find work. Unemployment figures certainly are presented as just those who are on the roll. There are times when adjustments are made but they never count those who have given up.
Repeating something doesn't make it true. People like my BIL and friends who have given up looking for work are not counted and they should be because the reason they are not working is they cannot find work. Unemployment figures certainly are presented as just those who are on the roll. There are times when adjustments are made but they never count those who have given up.
Try reading the rules on the U.S. Bureau of Labor and Statistics website:
Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.
Workers expecting to be recalled from layoff are counted as unemployed, whether or not they have engaged in a specific jobseeking activity. In all other cases, the individual must have been engaged in at least one active job search activity in the 4 weeks preceding the interview and be available for work (except for temporary illness).
If your Brother-In-Law and friends met the following conditions, they would be counted as UNEMPLOYED:
(1) they do not have a job,
AND
(2) they actively looked for work in the prior 4 weeks,
AND
(3) they are available for work.
It seems to me you would prefer to believe what you think the rules are!
So I realize this is a naive and stupid question but how do these numbers become available. Are companies required to report how many jobs they added to the government. I just have doubt about this whole thing. I do not believe that the recession is over, contrary to what elected official have to say about it all.
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